Employee Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2019

Retirement Benefits [Abstract]

Components Of Stock-Based Compensation Expense

The following table represents stock-based compensation expense and related income tax benefits in each of fiscal 2019, 2018, and 2017, respectively:

Years ended June 30,	2019		2018		2017
Operating expenses	$	16.9	$	22.9	$	21.5
Selling, general and administrative expenses	131.2		128.7		99.2
System development and programming costs	19.2		23.8		18.2
Total pretax stock-based compensation expense	$	167.3	$	175.4	$	138.9
Income tax benefit	$	41.6	$	44.1	$	49.9

Changes In Stock Options Outstanding

Stock Options:

	Number of Options (in thousands)		Weighted Average Price (in dollars)
Options outstanding at July 1, 2018	3,983		$	87
Options granted	836		$	147
Options exercised	(1,126	)	$	78
Options forfeited/cancelled	(85	)	$	103
Options outstanding at June 30, 2019	3,608		$	103
Options exercisable at June 30, 2019	1,207		$	81
Shares available for future grants, end of year	26,529
Shares reserved for issuance under stock option plans, end of year	30,137

Time Based Restricted Shares and Units

Time-Based Restricted Stock and Time-Based Restricted Stock Units:

	Number of Shares (in thousands)		Number of Units (in thousands)
Restricted shares/units outstanding at July 1, 2018	1,598		345
Restricted shares/units granted	630		145
Restricted shares/units vested	(863	)	(169	)
Restricted shares/units forfeited	(93	)	(31	)
Restricted shares/units outstanding at June 30, 2019	1,272		290

Performance Based Restricted shares and units

Performance-Based Restricted Stock and Performance-Based Restricted Stock Units:

	Number of Shares (in thousands)		Number of Units (in thousands)
Restricted shares/units outstanding at July 1, 2018	302		789
Restricted shares/units granted	123		379
Restricted shares/units vested	(156	)	(283	)
Restricted shares/units forfeited	(19	)	(18	)
Restricted shares/units outstanding at June 30, 2019	250		867

Assumptions Used To Estimate Fair Value For Stock Options Granted

The fair value for stock options granted was estimated at the date of grant using the following assumptions:

	2019			2018			2017
Risk-free interest rate	2.7		%	1.8		%	1.2		%
Dividend yield	1.9		%	2.1		%	2.3		%
Weighted average volatility factor	20.9		%	21.7		%	23.2		%
Weighted average expected life (in years)	5.4			5.4			5.4
Weighted average fair value (in dollars)	$	26.60		$	17.50		$	14.36

Weighted average fair value of restricted stock granted

The weighted average fair values of shares granted were as follows:

Year ended June 30,	2019		2018		2017
Performance-based restricted stock	$	146.93	$	107.43	$	90.63
Time-based restricted stock	$	146.80	$	108.10	$	90.99

Schedule of Net Funded Status

The Company's pension plans' funded status as of June 30, 2019 and 2018 is as follows:

June 30,	2019			2018
Change in plan assets:
Fair value of plan assets at beginning of year	$	2,178.1		$	2,138.4
Actual return on plan assets	142.0			148.5
Employer contributions	10.0			10.9
Currency translation adjustments	(7.0		)	5.0
Benefits paid	(412.6		)	(124.7		)
Fair value of plan assets at end of year	$	1,910.5		$	2,178.1
Change in benefit obligation:
Benefit obligation at beginning of year	$	2,135.3		$	1,866.7
Service cost	59.8			74.6
Interest cost	78.6			65.4
Actuarial loss/(gain)	95.8			(73.7		)
Currency translation adjustments	(8.7		)	7.5
Plan changes	0.8			—
Curtailments and special termination benefits	2.2			319.5
Benefits paid	(412.6		)	(124.7		)
Projected benefit obligation at end of year	$	1,951.2		$	2,135.3
Funded status - plan assets less benefit obligations	$	(40.7	)	$	42.8

Schedule of Amounts Recognized in Balance Sheet

The amounts recognized on the Consolidated Balance Sheets as of June 30, 2019 and 2018 consisted of:

June 30,	2019			2018
Noncurrent assets	$	108.0		$	180.8
Current liabilities	(5.9		)	(5.3		)
Noncurrent liabilities	(142.8		)	(132.7		)
Net amount recognized	$	(40.7	)	$	42.8

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

The Company's pension plans with accumulated benefit obligations in excess of plan assets as of June 30, 2019 and 2018 had the following projected benefit obligation, accumulated benefit obligation, and fair value of plan assets:

June 30,	2019		2018
Projected benefit obligation	$	162.4	$	151.3
Accumulated benefit obligation	$	149.9	$	138.1
Fair value of plan assets	$	13.8	$	13.3

Components Of Net Pension Expense

The components of net pension expense were as follows:

	2019			2018			2017
Service cost – benefits earned during the period	$	59.8		$	74.6		$	80.8
Interest cost on projected benefits	78.6			65.4			60.0
Expected return on plan assets	(131.8		)	(137.5		)	(135.8		)
Net amortization and deferral	0.1			8.4			19.1
Special termination benefits and plan curtailments	48.7			319.5			0.1
Net pension expense	$	55.4		$	330.4		$	24.2

Schedule of Assumptions Used

Assumptions used to determine the actuarial present value of benefit obligations were:

Years ended June 30,	2019		2018
Discount rate	3.40	%	4.10	%
Increase in compensation levels	4.00	%	4.00	%

Defined Benefit Plan Assumptions Used Calculating Net Pension Expense

Assumptions used to determine the net pension expense generally were:

Years ended June 30,	2019		2018		2017
Discount rate	4.10	%	3.70	%	3.40	%
Expected long-term rate of return on assets	6.75	%	6.75	%	7.00	%
Increase in compensation levels	4.00	%	4.00	%	4.00	%

Schedule of Allocation of Plan Assets

The Company's pension plans' asset allocations at June 30, 2019 and 2018 by asset category were as follows:

	2019		2018
Cash and cash equivalents	1	%	1	%
Fixed income securities	44	%	52	%
U.S. equity securities	17	%	14	%
International equity securities	13	%	12	%
Global equity securities	25	%	22	%
	100	%	100	%

Defined Benefit Plan Target Allocation Percentage

The target asset allocation ranges for the U.S. plan are generally as follows:

U.S. fixed income securities	35% - 45%
U.S. equity securities	14% - 24%
International equity securities	11% - 21%
Global equity securities	20% - 30%

Fair Value, Measurement Inputs, Disclosure

The following table presents the investments of the pension plans measured at fair value at June 30, 2019:

	Level 1		Level 2		Level 3		Total
Commingled trusts	$	—	$	1,046.6	$	—	$	1,046.6
Government securities	—		417.9		—		417.9
Mutual funds	6.5		—		—		6.5
Corporate and municipal bonds	—		394.3		—		394.3
Mortgage-backed security bonds	—		30.2		—		30.2
Total pension asset investments	$	6.5	$	1,889.0	$	—	$	1,895.5

In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $15.0 million as of June 30, 2019, which have been classified as Level 1 in the fair value hierarchy.

The following table presents the investments of the pension plans measured at fair value at June 30, 2018:

	Level 1		Level 2		Level 3		Total
Commingled trusts	$	—	$	1,036.7	$	—	$	1,036.7
U.S. government securities	—		507.7		—		507.7
Mutual funds	5.5		—		—		5.5
Corporate and municipal bonds	—		586.8		—		586.8
Mortgage-backed security bonds	—		28.2		—		28.2
Total pension asset investments	$	5.5	$	2,159.4	$	—	$	2,164.9